Excel Living Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06252290 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2020

FOR

EXCEL LIVING LIMITED

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTORS:

Mrs G Tyson

Mrs H Dawkins

REGISTERED OFFICE:

Kingswood House

South Road

Kingswood

Bristol

BS15 8JF

REGISTERED NUMBER:

06252290 (England and Wales)

ACCOUNTANTS:

NJR Accountancy Services Limited

14 Victoria Square

Droitwich Spa

Worcestershire

WR9 8DS

BANKERS:

HSBC Bank Plc

79 Regent Street

Kingswood

Bristol

BS15 8LH

FIXED ASSETS

Property, plant and equipment

4

334

445

CURRENT ASSETS

Debtors

5

63,571

49,931

Cash at bank

29,300

28,019

92,871

77,950

CREDITORS

Amounts falling due within one year

6

39,099

62,307

NET CURRENT ASSETS

53,772

15,643

TOTAL ASSETS LESS CURRENT LIABILITIES

54,106

16,088

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

54,102

16,084

SHAREHOLDERS' FUNDS

54,106

16,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th May 2021 and were signed on its behalf by:

Mrs G Tyson - Director

1.	STATUTORY INFORMATION

Excel Living Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

Government grants

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2019 - 23 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Computer

equipment

£

COST

At 1st June 2019

and 31st May 2020

7,039

DEPRECIATION

At 1st June 2019

6,594

Charge for year

111

At 31st May 2020

6,705

NET BOOK VALUE

At 31st May 2020

334

At 31st May 2019

445

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade debtors

57,616

49,671

Other debtors

5,955

260

63,571

49,931

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Trade creditors

1,217

2,321

Taxation and social security

29,559

54,966

Other creditors

8,323

5,020

39,099

62,307